Evercore ISI Cuts Intel (INTC) Price Target to $50.00

Intel (NASDAQ:INTC) had its price objective lowered by investment analysts at Evercore ISI from $54.00 to $50.00 in a report released on Monday, The Fly reports. The brokerage presently has a “positive” rating on the chip maker’s stock. Evercore ISI’s price target suggests a potential upside of 2.54% from the stock’s current price.

Other research analysts also recently issued reports about the stock. Zacks Investment Research raised shares of Intel from a “hold” rating to a “buy” rating and set a $53.00 price objective on the stock in a research report on Wednesday, September 26th. Macquarie reissued a “buy” rating and issued a $60.00 target price on shares of Intel in a research note on Monday, September 24th. JPMorgan Chase & Co. reissued a “buy” rating and issued a $68.00 target price on shares of Intel in a research note on Monday, October 1st. Wells Fargo & Co set a $55.00 target price on shares of Intel and gave the company a “buy” rating in a research note on Monday, October 1st. Finally, Morningstar set a $65.00 target price on shares of Intel and gave the company a “buy” rating in a research note on Monday, October 1st. Six equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and twenty have given a buy rating to the company. Intel has a consensus rating of “Hold” and a consensus price target of $55.02.

NASDAQ INTC traded up $0.41 during trading hours on Monday, hitting $48.76. 3,633,021 shares of the stock were exchanged, compared to its average volume of 25,614,388. The stock has a market capitalization of $228.91 billion, a P/E ratio of 14.09, a P/E/G ratio of 1.28 and a beta of 0.85. Intel has a 12-month low of $42.04 and a 12-month high of $57.60. The company has a quick ratio of 1.13, a current ratio of 1.51 and a debt-to-equity ratio of 0.35.



Intel (NASDAQ:INTC) last issued its earnings results on Thursday, October 25th. The chip maker reported $1.40 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.15 by $0.25. The company had revenue of $19.16 billion during the quarter, compared to analysts’ expectations of $18.11 billion. Intel had a net margin of 21.91% and a return on equity of 29.64%. On average, equities research analysts expect that Intel will post 4.53 earnings per share for the current fiscal year.

Intel announced that its Board of Directors has approved a stock buyback plan on Thursday, November 15th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the chip maker to purchase up to 6.8% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

In other Intel news, EVP Steven Ralph Rodgers sold 2,235 shares of the stock in a transaction that occurred on Friday, October 26th. The stock was sold at an average price of $45.66, for a total transaction of $102,050.10. Following the transaction, the executive vice president now directly owns 30,324 shares in the company, valued at approximately $1,384,593.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Kevin Thomas Mcbride sold 6,500 shares of the stock in a transaction that occurred on Tuesday, October 30th. The stock was sold at an average price of $45.53, for a total value of $295,945.00. Following the transaction, the vice president now owns 14,271 shares in the company, valued at $649,758.63. The disclosure for this sale can be found here. Insiders sold 21,809 shares of company stock worth $1,033,992 over the last quarter. 0.03% of the stock is currently owned by company insiders.

Several large investors have recently modified their holdings of INTC. Home Federal Bank of Tennessee raised its stake in Intel by 1.1% in the 4th quarter. Home Federal Bank of Tennessee now owns 23,524 shares of the chip maker’s stock worth $1,104,000 after acquiring an additional 247 shares during the last quarter. Endurance Wealth Management Inc. increased its holdings in Intel by 1.0% in the fourth quarter. Endurance Wealth Management Inc. now owns 24,654 shares of the chip maker’s stock valued at $1,157,000 after buying an additional 250 shares in the last quarter. Cornerstone Advisors Inc. increased its holdings in Intel by 3.0% in the third quarter. Cornerstone Advisors Inc. now owns 8,761 shares of the chip maker’s stock valued at $414,000 after buying an additional 257 shares in the last quarter. United Capital Management of KS Inc. increased its holdings in Intel by 1.6% in the fourth quarter. United Capital Management of KS Inc. now owns 17,535 shares of the chip maker’s stock valued at $823,000 after buying an additional 275 shares in the last quarter. Finally, Stillwater Investment Management LLC increased its holdings in Intel by 0.6% in the fourth quarter. Stillwater Investment Management LLC now owns 48,888 shares of the chip maker’s stock valued at $2,294,000 after buying an additional 287 shares in the last quarter. 64.22% of the stock is currently owned by institutional investors.

Intel Company Profile

Intel Corporation designs, manufactures, and sells computer, networking, data storage, and communication platforms worldwide. The company operates through Client Computing Group, Data Center Group, Internet of Things Group, Non-Volatile Memory Solutions Group, Programmable Solutions Group, and All Other segments.

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